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bernanke also had several caveats. explain those? >> so ben bernanke, the fed chairman, was very clear that today's statement doesn't represent an abandonment of low inflation. he said, for example, that if inflation were to rise unexpectedly, over 2.5% in their own forecasts, that might be reason enough for them to start raising interest rates even if unemployment has not come down 206.5%. >> sreenivasan: markets traditionally love certainty. why didn't they embrace it today? >> i think markets are starting to question whether the fed actually has the ability to deliver on this commitment to low unemployment. they've got the interest rates at 0, they have trillions of dollars worth of bonds and still the economy is very, very weak. >> sreenivasan: going forward, are there things that we should be looking for as signs from the fed on what's going to happen or should we be paying more attention to unemployment rate? >> well, the fed has taken one more step today. they're doubling the amount of bonds they're buying by printing money. they call that quantitative easing. but the other fact
about and that's why ben bernanke cannot put the phrase. guest: as exactly right, we have two very different problems. the only reason we're talking about the second issue is politics. this is the politics of the moment tromping economic common sense which is a dangerous combination. guest: the fiscal solution is a fig leaf to allow members of congress to say we're going to spend so the spending cuts and tax increases and let the deficit be $500 billion higher. host: the debt is at $16.30 trillion and has increased $4 trillion over the last four years. the present and congress will say that over the next 10 years, we will get it back to where was in 2009, correct? guest: that is fundamentally not good enough. countries with our level of indebtedness grow more slowly and they have a higher chance of some sort of fiscal crisis. we should not mess with either one of those things. i would like to see an aggressive reform of the spending programs. let's not get back to where it was but start going down. that does not have to be austerity. imagine fixing social security. right now, it is
. speaking of the fiscal cliff, jessica, what did the fed chairman ben bernanke say about these current negotiations? >> well, bernanke is the man credited with coining the term fiscal cliff. he did it back in february as part of testimony before congress. bernanke was speaking at a press conference today and he was asked two things. one, does he see impacts from the fiscal cliff, the lack of a deal, is it already rippling through the economy in? he said, yes. that's why you're seeing a fall in consumer confidence and less business activity and he said that it's impair tea that the congress comes to a deal with the white house and he was asked, do you think that term is correct a. fiscal cliff? is it a slope, maybe? he said, no, it's a fiscal can cliff because the economy will hit a brick wall if there is not a deal in january. he says it is not hype. >> he's basically saying if we go over the fiscal cliff, if these lawmakers and white house doesn't make a deal, it could lead to a recession? >> that >> reporter: that's right. we could hit another recession if we go over the fiscal cliff
nonpoliticians, pope benedict and ben bernanke are in the top ten. michael bloomberg and the ceo of walmart are in the top 20. >> bill: did we get an answer on our tweets? >> i'll have o to see. he didn't answer our tweet. i don't know if he's tweeted anything yet. i'll look him up. >> the grammy nominations were announced last night. album of the year nominees include el camino by the black keys, some nights by fun mumford and sons, channel orange by frank ocean and blunder bust by jack white. song of the year nominees include carly rae jepsen, kelly clarkson miguel and fun. grammys coming out in february. >> i'm glad i'm not a judge of the grammys. if i had to choose between -- >> the list that you just gave -- song of the year -- they won't be around in a couple of years. they just won't. >> kelly clarkson will be around. >> kelly clarkson, you're right. >> she's been around for ten years. she's been very successful. >> bill: i would give it to dave brubeck. >> that would be good. >> bill: he died yesterda
.m. eastern. later federal reserve chairman ben bernanke holds a news conference following a meeting of the federal open market committee. you can watch it live beginning at 2:15 p.m. eastern. >> the white house was very controversial, as most things in america where. the designer of washington city, there was a competition. he submitted the design for a palace. it was not particularly on inspiring. in fact, in 1821, european diplomat told the congress that it was neither large nor on inspiring. the answer said -- the answer was the building served its purpose. perhaps some president would be inclined to become its permanent resident. >> former new york times photo critic has gathered a few of for favre winehouse photos and the white house, the president's home and photographs in history. one sunday evening at 730 eastern and pacific on american history tv. >> senators chuck schumer and lamar alexander held a press briefing today on planning for next month's presidential inauguration. since 1901 the joint congressional committee on inaugural ceremonies as irresponsible for the planni
Search Results 0 to 4 of about 5